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We frequently partner with Real Estate Agents to benefit you and your clients. We will take care of your clients’ properties until you sell their home(s). Learn how we work with Real Estate Agents or contact us.
Call us at (808) 427-0611

New Honolulu Housing Statistics Show Rent Rates Rise 7.2 Percent

HONOLULU – April 14, 2016 – Honolulu rental home rates are continuing to rise, according to Real Property Management Alliance, part of the nation’s leading property management franchise organization, and RentRange, the nation’s leading provider of Rental Market Intelligence™.

The quarterly “Rental Statistics Report” found that the average monthly rent for single-family homes in Honolulu was $2,691, representing a 7.28 percent year-over-year increase. Through the first quarter of 2016, the companies found that home rental rates increased nationally from $1,305 a year ago to $1,373 – a 5.2 percent increase. The data used rents on three-bedroom single-family homes only to ensure comparability across markets.

“Although the rate of increase year to year has slowed from last quarter, the overall trend of higher average rents in Honolulu has continued into the 1st quarter of 2016,” said Kawika Burgess, President and CEO of Real Property Management Alliance a Honolulu franchisee of the Real Property Management franchise system.

Statewide vacancy rates, the percentage of homes considered unoccupied, decreased to 3.61 percent in the first quarter. This represents a .03 point drop from a year ago. Nationally, the rate fell to 5.31 percent, a slight decrease from the 5.63 percent vacancy rate at the beginning of 2015.

The report also analyzed the saturation rate in Hawaii. This is the estimated percentage of rented single-family homes as a share of all single-family homes. Results showed that in Hawaii, 35.39 percent of single-family homes are rented.

As leaders in the rental housing industry, the Real Property Management franchise and RentRange have an ongoing strategic business relationship. Real Property Management offices rely on RentRange’s proprietary rental housing data to provide landlord customers with accurate, current information about local rental properties and rental markets.

Have a question you can’t find the answer to on our website?
Call us at (808) 427-0611

We frequently partner with Real Estate Agents to benefit you and your clients. We will take care of your clients’ properties until you sell their home(s). Learn how we work with Real Estate Agents or contact us.
Call us at (808) 427-0611